Industry Changes Technological deve

Industry Changes Technological developments often lead to industry changes. For example, the methods used to distribute goods have evolved over the past 100 years or so from animal power (horse-and-wagon) to railcars, trucks, and airplanes. Very few companies that began distributing goods using horse-drawn wagons were able to adapt to these changes. One company that did, the West Motor Freight Company, successfully transitioned from horse-and-wagon deliveries to a regional delivery service, celebrating 100 years of continuous operation in 2007 because it has been able to embrace industry changes.Economic Environment The economic environment impacts all organizations and individuals. When the economy is growing, there is a greater demand for business goods and services, and many companies are able to thrive and grow. When the economy is shrinking, companies survive, or may even prosper, when they’re able to keep expenses in line with declining income. In this environment, tightly run companies (those able to eliminate redundancy and waste) are more likely to succeed.